Nicola Mining Announces Grant of Stock Options and Restricted Share Units

TSX.V: NIM

FSE: HLIA

OTCQB: HUSIF

NICOLA MINING ANNOUNCES GRANT OF STOCK OPTIONS AND RESTRICTED SHARE

UNITS

VANCOUVER, B.C., December 18, 2024 – Nicola Mining Inc. ( TSX.V: NIM ) (FSE: HLIA ) ( OTCQB:

HUSIF), (the “ Company” or “ Nicola”) is pleased to announce that it has granted stock options

(“Options”) and restricted share units ("RSUs") to certain directors, officers, employees and consultants.

The Company granted an aggregate of 500,000 Option s to one consultant at an exercise price of $ 0.30

expiring five years from the date of grant. The Options vest imme diately. In addition, the Company

granted an aggregate of 1,000,000 RSUs to directors, officers, employees and consultants. The RSUs vest

on December 31, 2025. The stock options and RSUs were granted in accordance with the Company's

equity incentive plan. All of the stock options and RSUs granted to directors, officers and consultants are

subject to the TSX Venture Exchange hold period of four months and one day from the date of grant.

About Nicola Mining

Nicola Mining Inc. is a junior mining company lis ted on the Exchange and Frankfurt Exchange that

maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia It has signed

Mining and Milling Profit Share Agreements with high grade gold projects. Nicola’s fully permitted mill

can process both gold and silver mill feed via gravity and flotation processes.

The Company owns 100% of the New Craigmont Project, a high-grade copper property, which covers an

area of over 10,800 hectares along the southern end of the Guichon Batholith and is adjacent to Highland

Valley Copper, Canada’s largest copper mine. The Company also owns 100% of the Treasure Mountain

Property, which includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200

hectares.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information

Contact: Peter Espig

Phone: (778) 385-1213

Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.